Do Home Improvements Add Value?

These 10 around-the-house improvements are well worth the investment. You may have to leave your home if major works are needed on the building. Your council must find you somewhere to live while work is carried out and pay for the cost of this. We have a planned home improvement programme which ensures your home exceeds the Government’s Decent Homes standard. This might involve fitting a new kitchen or bathroom, upgrading electrics or adding new windows and doors. We also maintain our neighbourhoods by repairing fencing, improving footpaths and green spaces, and adding better lighting.

Klump’s predictions are supported by the last decade of home renovation spending. According to Toronto-based real estate consultants, Altus Group, renovation spending has been rising for 15 years—from $45-billion in 2006 to $71-billion in 2015. (The 2016 stats aren’t in yet, but the forecast suggests that this expenditure will increase by 1.9%, or another $1.35-billion, by year-end.) If we were to take the total renovation expenditures for 2015, each homeowner would end up spending, on average, about $5,000 on their remodel project. If home prices continue to rise, or even if prices taper off and stay stagnant at the current high valuations, the ongoing renovation trend is sure to continue.

PeachtreeRemodeling magazine, in its “Cost Versus Value Report,” offers a region-by-region market analysis of specific projects and the paybacks of each in terms of selling your home. An example: Replacing old windows with vinyl models at a cost of $11,066 increased the resale value by $7,920. So, 71.8 percent of the expense is recouped. Older houses can often have a separate toilet and bathroom, which can put buyers off, so if this is the case in your home, you might consider installing a toilet inside the bathroom, if you have the space.

Splashing out on home improvements not only makes your house a more enjoyable place to live, but it if done right it is also likely to give its value a boost. Also topping the list for features that will sell your home fast was double glazing, home security systems and energy saving improvements , all set you make you a profit and add value to your home’s selling price.

Because many buyers see the kitchen as the heart of the home, even a few basic improvements to this room can really pay off. Consider including energy efficient appliances, stainless steel, new countertops, a new sink, a coat of paint and new flooring. Cupboards can also be sanded, stained, painted or replaced if necessary. Where possible a classic design and neutral paint tones are best as these will appeal to a broader range of people. A well renovated kitchen can recoup between 70% and 80% of the remodelling cost when the home is sold.